The tease factor runs high in “Femme Fontaine: Killer Babe for the C.I.A.,” a Troma pickup that gives new meaning to the phrase tongue-in-cheek. Showcase for the well-packaged talents of Margot Hope, who also directed, wrote and produced, is a passable time-waster for the freeze-frame crowd.

Plot of sorts has Hope as an agency assassin who’s more concerned with tracing her missing father, a spy who disappeared in South America in 1986. Trail leads her to an L.A. porno producer who’s laundering money for a Chinatown gangster (Catherine Dao) and then, via her tai chi master (James Hong), to a neo-Nazi org fomenting Aryan supremacy on the streets of California.

Hope, who’s stronger on wardrobe than athletic ability, keeps the stew of soft-core t&a and low-thrills action moving along, and the cast of assorted muscleheads and starlets look like they had fun dressing up.

Hong adds a touch of sanity to the proceedings, and Dao overacts wildly as an incompetent Dragon Lady.

Apart from a lazy, disco-beat score by Gardner Cole, production values are mostly superior to regular Troma-produced fare.